Bookmakers pay millions after Leicester City upset makes history
LAS VEGAS (KSNV News3LV) —
Talk about an upset! The William Hill Sports Books inside of Silver Sevens in Las Vegas, Buffalo Bill's in Primm and the William Hill Mobile Sports app were the only Sports Book in Nevada to take bets on Leicester City at the 2500/1 odds.
For those keeping track, the Associated Press reports that Leicester secured an incredible first Premier League title without playing on Monday after second-place Tottenham drew 2-2 at Chelsea.
According to the Associated Press, Leicester was playing in the second tier only two years ago, came close to be relegated again last year and started this season as 5,000-1 outsiders for the title.
Now for the first time in their 132-year history, Leicester is the champion of England after establishing an insurmountable seven-point lead over Tottenham with two games remaining.
In Nevada, that means people who took the gamble get big payouts. Michael Grodsky from William Hill said these are the details of each of the bets that paid out:
- $10 placed at the William Hill Sports Book inside Silver Sevens (Las Vegas) on July 15, 2015
- $5 placed at the William Hill Sports Book inside Buffalo Bill's (Primm) on June 24, 2015
- $2 placed on the William Hill Mobile Sports app on June 6, 2015
In the United Kingdom, the payout is enormous. According to CNBC and Nick Bogdanovich, director of trading for William Hill's U.S. sports betting operations in Las Vegas, "In the U.K., they are estimating $20 million worth of losses."
Leicester spent most of 2015 in last place out of 20 teams.